Turkey's Turunc law firm has advised Yu-Ce Medical and its shareholders, Cengiz Balcik and Yumnu Balcik, on the acquisition of the remaining 28% of Yu-Ce shares from the Anatolia Growth Capital Fund. Yuksel Legal advised Anatolia Growth Capital Fund on the deal.
The new coronavirus (“COVID-19”), which emerged in the city of Wuhan, China in December 2019 and spread around the world in a short time with the contribution of interdependence between countries, continues to have significant effects in many areas of life. One of these areas is international tax law, and potential disputes should be expected in the near future regarding taxation rights, which are demarcated by Avoidance of Double Taxation Treaties (“DTT”).
In The Corner Office feature of CEE Legal Matters we ask Managing Partners at leading law firms across Central and Eastern Europe about their unique roles and responsibilities. In light of current events, the question for this online occurrence of the feature is: "What have been the top three most often asked COVID-19 related questions that you have gotten from clients in the last month?”
Love them or hate them, conferences are a fundamental part of the successful commercial lawyer’s calendar. But time is precious. Those calendars are full. It’s vital for conference organizers to get them right, and critical for lawyers to choose wisely in determining which events to attend and which to skip.
I can pinpoint the exact moment when my interest in the law first flourished: I was 13 years old and my mother had given me a book called The Courage of their Convictions by Peter H. Irons, about 16 Americans who had fought for their rights and taken their cases all the way to the Supreme Court, and what I read resonated deeply within me. It later turned out that my mother had only given me the book to improve my English. But it opened the door to so much more.
Nowadays, alternative methods of dispute resolution, not involving the courts, are increasing. Since disputes are getting ever-more complicated, and general peace between parties is preferable, parties now prefer to solve disputes with more peaceful and flexible alternative dispute resolution methods instead of litigation – and judicial systems are encouraging parties to employ these methods. In this context, mediation has in recent years become the most preferred and fastest-growing alternative dispute resolution method.
Turunc has advised ELBA HR Insan Kaynaklari Egitim ve Danismanlik Anonim Sirketi (doing business as "Peoplise") and its founding shareholders on the acquisition of 86.7% of the company from them and Revo Capital and 500 Startups by LOGO. Yazilim Sanayi ve Ticaret A.S. BTS & Partners and Aksan advised Revo Capital and 500 Startups, respectively, and Kolcuoglu Demirkan Kockali advised LOGO.
The COVID-19 pandemic is showing the effects all over the world and as for Turkey, has taken immense measures to prevent the spread of COVID-19. Various government bodies issued decrees to prevent the spread of COVID-19. As we mentioned in our previous articles, The Republic of Turkey and the Ministry of Internal Affairs decided to temporarily close workplaces. This process, which started with an additional circular sent to all governorates on March 15, 2020, has already halted the activities of more than 200,000 businesses. In addition, on 22.03.2020, it was decided to stop all enforcement and bankruptcy proceedings with the Presidency Decision No. 2279. Later on, with the Provisional Article 2 of the Law No. 7226 which dated on 26.03.2020, it was concluded that the rental fees that were not paid between 1.3.2020-30.6.2020 will not constitute the reason for the termination of the lease contracts and evacuation of the workplaces. Problems have arisen as to whether the measures introduced in terms of lease contracts will be paid in respect of rental fees. In this article an assessment will be made on this issue.
As the coronavirus outbreak is increasing rapidly by day, more uncertainty and difficulty for enterprises and businesses are born particularly in regard to the performance of contractual obligations. Herewith, more and more businesses and organisations are now inevitably looking at their contracts to see what impact the coronavirus outbreak will have and how they can mitigate and navigate the challenges brought by the pandemic. Ultimately, businesses worldwide are considering whether they can or should rely on the force majeure clause, if there is one in the relevant contract, or the common law doctrine of frustration as legal mechanisms to manage the impact of the crisis on their business and see what possible remedies might be available at the end.